How long is this money overdue? It will be cancelled and paid in full by installments.

According to the relevant laws and regulations of our country, under normal circumstances, the installment payment service can be cancelled if the repayment is overdue for more than 30 days, and all arrears need to be paid off in one lump sum.

Description:

1. Article 24 of China's Law on the Protection of Consumer Rights and Interests stipulates that consumers shall pay in the manner and within the time limit agreed in the contract when purchasing goods or receiving services. If the payment is overdue, the merchant has the right to take corresponding measures.

2. According to Article 32 of the Interim Measures for the Management of Business Activities of Peer-to-Peer Lending Information Intermediaries, if it is overdue for more than 90 days, the platform shall take measures permitted by laws and regulations to investigate its legal responsibility.

3. According to Article 25 of Chapter V of the Interim Measures for the Administration of Basic Database of Personal Consumption Credit Information, if the personal consumption credit information is overdue for more than 30 days, it shall be recorded in the personal credit report.

Summary:

After the payment is overdue for more than 30 days, similar installment services such as Youhuahua may cancel the installment option and require all arrears to be paid off at one time. This is determined according to China's Consumer Rights Protection Law, Regulations on the Management of Peer-to-Peer Lending and Regulations on the Management of Personal Consumption Credit Information. Therefore, when using the installment payment business, it is necessary to pay the money in time in the way and within the time limit agreed in the contract.

Extended data:

According to the rules and regulations formulated by the People's Bank of China, the Supreme People's Court and other relevant departments, overdue repayment may cause personal credit records to be damaged, affecting personal credit rating and future lending ability. Therefore, consumers are advised to plan the repayment plan reasonably when using the installment payment business to ensure that the arrears are paid on time and avoid the risk of bad credit records due to overdue. At the same time, if you can't repay the loan on time, it is recommended to communicate with the merchants or lending platforms in time to seek solutions and reduce the possible adverse consequences.